Backblaze, Inc. Stock Price, News & Analysis

Backblaze (NASDAQ: BLZE) has been recognized as a Leader in G2's Winter 2025 Report, securing over 15 badges across multiple categories. The company received notable recognition for Best Estimated ROI in Object Storage Solutions, High Performer in Storage Management, Fastest Implementation for Storage Management, and Leader status in Online Backup and Disaster Recovery.

The company's performance in G2's Winter 2025 Report demonstrates strong customer satisfaction across key operational areas, including ease of use, implementation speed, and support quality. These recognitions are particularly significant as they are based on authentic reviews and ratings from business professionals, requiring a minimum of ten reviews and five responses for usability-related qualifications.

Backblaze (Nasdaq: BLZE) has announced it will release its fourth quarter and full year 2024 financial results on Tuesday, February 25, 2025, after market close. The cloud storage company will host a conference call and webcast at 2:00 p.m. PT (5:00 p.m. ET) on the same day to discuss the results. Interested parties can attend the webcast or register to listen via phone, with dial-in information to be provided via email to registrants. An archive of the webcast will be made available on the company's Investor Relations page shortly after the event.

Backblaze (NASDAQ: BLZE) has announced the Winter Release of its B2 Cloud Storage platform, introducing significant updates to enhance enterprise security and streamline data workflows. The release includes several key features: Scalable Application Keys allowing generation of up to 10,000 unique data access keys per minute, Scoped Application Keys for more nuanced access control, and a strengthened Command Line Interface with improved security features.

The update also introduces Event Notifications for automated workflow triggers, Custom Upload Timestamps for maintaining original file metadata during migrations, and IPv6 support. The platform, which serves over 100,000 businesses, now includes a Partner API for automated trial account provisioning and various under-the-hood improvements for enhanced system efficiency and service stability. All features are available across all Backblaze global regions, including the new Canada East data region.

Backblaze (Nasdaq: BLZE) has announced the opening of a new data region in Toronto, Ontario, marking a significant expansion into the Canadian market. The Canada East (CA East) region aims to serve the rapidly growing Canadian cloud services market, which is expected to grow at a CAGR of nearly 20%.

The expansion addresses increasing demands from industries such as healthcare, finance, and government, particularly focusing on data sovereignty requirements. Backblaze has partnered with Opti9 Technologies, Canada's largest Veeam Cloud Service Provider, as the exclusive Canadian channel for Backblaze B2 Reserve and the Powered by Backblaze program.

The new facility is designed to ensure compliance with local regulations while offering cloud storage solutions at competitive prices compared to larger providers. This move aligns with the growing trend toward multi-cloud and hybrid cloud strategies, emphasizing open, interoperable solutions that avoid vendor lock-in.

Backblaze (BLZE) has announced equity awards granted on November 29, 2024, as inducement to employment for two key executives. Marc Suidan, Chief Financial Officer, received 300,000 restricted stock units (RSUs), while Jason Wakeam, Chief Revenue Officer, received 112,740 RSUs.

The RSUs, granted under the company's 2024 New Employee Equity Incentive Plan, will vest 25% on August 20, 2025, with the remaining portions vesting quarterly over the subsequent 4 years, contingent on continued employment. These awards were approved by Backblaze's Compensation Committee in compliance with Nasdaq Listing Rule 5635(c)(4).

Backblaze (BLZE) announced a presentation at the Sports Video Group Summit featuring a case study with the Philadelphia Eagles on cloud-based media production. The presentation will showcase how the Eagles implemented a fast, cloud-based media workflow using Backblaze B2 Cloud Storage, Mimir asset management software, and Quantum shared file system. The team successfully replaced LTO tape storage with cloud storage, enabling immediate access to historical footage and improving content production efficiency within 48 hours after games. The solution enhanced content sharing with external vendors and streamlined media operations.

Backblaze (BLZE) announced that underwriters of its recent upsized public offering have fully exercised their over-allotment option to purchase an additional 937,500 shares of Class A common stock at $5.60 per share. The exercise closed on November 25, 2024, bringing the total net proceeds to $37.5 million after deducting underwriting discounts and commissions. The offering was managed by Oppenheimer & Co. Inc. and Needham & Company as joint book-running managers, with Craig-Hallum Capital Group as co-manager.

Backblaze (BLZE) has announced the pricing of its upsized public offering of 6,250,000 shares of Class A common stock at $5.60 per share. The offering, expected to close on November 22, 2024, includes a 30-day option for underwriters to purchase up to an additional 937,500 shares. The offering is being managed by Oppenheimer & Co. Inc. and Needham & Company as joint book-running managers, with Craig-Hallum Capital Group as co-manager.

Backblaze (BLZE) has announced a proposed follow-on public offering of $30 million of Class A common stock shares. The company plans to grant underwriters a 30-day option to purchase up to an additional $4.5 million of shares at the public offering price less underwriting discount. Oppenheimer & Co. Inc. and Needham & Company, are serving as joint book-running managers. The offering is subject to market conditions and will be made under an effective shelf registration statement filed with the SEC on May 1, 2024.